Arizona State Retirement System Raises Position in CAVA Group, Inc. (NYSE:CAVA)

Arizona State Retirement System boosted its stake in CAVA Group, Inc. (NYSE:CAVA) by 41.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,224 shares of the company’s stock after buying an additional 6,808 shares during the quarter. Arizona State Retirement System’s holdings in CAVA Group were worth $2,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new position in shares of CAVA Group during the fourth quarter valued at approximately $2,697,000. M&T Bank Corp lifted its holdings in shares of CAVA Group by 46.0% during the fourth quarter. M&T Bank Corp now owns 9,226 shares of the company’s stock valued at $1,041,000 after purchasing an additional 2,906 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in shares of CAVA Group by 55.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 10,768 shares of the company’s stock valued at $1,215,000 after purchasing an additional 3,861 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of CAVA Group by 46.7% during the fourth quarter. Victory Capital Management Inc. now owns 29,851 shares of the company’s stock valued at $3,367,000 after purchasing an additional 9,497 shares during the last quarter. Finally, Mainstream Capital Management LLC lifted its holdings in shares of CAVA Group by 0.7% during the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock valued at $2,003,000 after purchasing an additional 132 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Trading Down 4.3 %

Shares of CAVA opened at $80.51 on Tuesday. The firm has a market cap of $9.31 billion, a PE ratio of 175.02 and a beta of 3.58. The firm has a fifty day simple moving average of $116.93 and a two-hundred day simple moving average of $125.35. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAVA. Loop Capital lowered their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. UBS Group lowered their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Barclays lowered their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Theodoros Xenohristos sold 851 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the sale, the insider now owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,235 shares of company stock worth $3,514,101. Insiders own 12.10% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.